’Cooperating with Sebi...’ says Quant Mutual Fund on front-running allegations

  • Sebi conducted search and seizure operations at Quant Mutual Fund's Mumbai and Hyderabad offices on suspicion of front-running, according to a MoneyControl report on Sunday.

Livemint
Updated24 Jun 2024, 08:40 AM IST
Quant Mutual Fund was founded by Sandeep Tandon and it got a mutual fund license from Sebi in 2017.
Quant Mutual Fund was founded by Sandeep Tandon and it got a mutual fund license from Sebi in 2017. (Image: iStockphoto)

Quant Mutual Fund, which is facing front-running charges, has said it is “fully committed to cooperating with the regulator”.

The statement came after Moneycontrol reported that the Securities & Exchange Board of India (Sebi) had conducted search and seizure operations at Quant Mutual Fund's offices in Mumbai and Hyderabad on suspicion of front-running. 

Sebi has also questioned Quant Mutual Fund dealers and persons connected with the case, Moneycontrol reported, quoting sources who have pegged alleged profits from the front-running operations at around 20 crore.

Front-running is an illegal practice where fund managers or dealers or brokers who are aware of upcoming large trades place their own orders beforehand to profit from an anticipated price movement when the large trade is executed.

Also Read: Mutual Funds: 3 top performing green energy funds for sustainable investing

Sandeep Tandon-owned Quant Mutual Fund confirmed it had received inquiries from the markets regulator.

“Recently, Quant Mutual Fund has received inquiries from Sebi, and we want to address any concerns you may have regarding this matter," the company said in a statement. 

"We want to assure you that Quant Mutual Fund is a regulated entity, and we are always fully committed to cooperate with the regulator throughout any review. We will provide all necessary support and continue to furnish data to Sebi on a regular and as-needed basis,” the company said.

Quant Mutual Fund has been the among the fastest-growing mutual funds in the country with assests under management (AUM) of more than 90,000 crore.

Also Read: Mutual Funds: How does choosing the STP option help advance your investment strategy?

“Our primary goal remains unchanged: to deliver superior risk-adjusted returns to all our valued investors. Your confidence in Quant Mutual Fund is of utmost importance to us, and we are dedicated to maintaining transparency and adherence to regulatory standards,” the company said.

Catch all the Mutual Fund news and updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.MoreLess
First Published:24 Jun 2024, 08:40 AM IST
HomeMutual Funds’Cooperating with Sebi...’ says Quant Mutual Fund on front-running allegations

Most Active Stocks

NTPC

382.80
10:21 AM | 15 JUL 2024
5.55 (1.47%)

Tata Steel

167.50
10:21 AM | 15 JUL 2024
-1.2 (-0.71%)

Bharat Electronics

333.05
10:21 AM | 15 JUL 2024
-0.25 (-0.08%)

Indian Oil Corporation

168.90
10:21 AM | 15 JUL 2024
2 (1.2%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Godfrey Phillips India

4,459.05
10:16 AM | 15 JUL 2024
398.25 (9.81%)

HBL Power Systems

615.00
10:17 AM | 15 JUL 2024
42.8 (7.48%)

Route Mobile

1,903.25
10:17 AM | 15 JUL 2024
130.9 (7.39%)

Vardhaman Textiles

558.85
10:17 AM | 15 JUL 2024
37.15 (7.12%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,771.00290.00
    Chennai
    73,827.00-145.00
    Delhi
    73,972.00-799.00
    Kolkata
    74,045.0073.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.75/L-0.01
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00

    Popular in Mutual Funds

      More From Popular in Mutual Funds
      OPEN IN APP
      HomeMarketsPremiumInstant LoanMint Shorts